Discounted Cash Flow (DCF) Analysis Levered

Silvercorp Metals Inc. (SVM.TO)

$3.26

+0.03 (+0.93%)
All numbers are in Millions, Currency in USD
Stock DCF: 6.27 | 3.26 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 170.52158.83192.11217.92208.13220.12232.80246.21260.39275.39
Revenue (%)
Operating Cash Flow 67.7577.2585.91107.3885.6498.40104.06110.06116.40123.10
Operating Cash Flow (%)
Capital Expenditure -34.31-35.30-52.20-67.20-54.96-55.81-59.02-62.42-66.02-69.82
Capital Expenditure (%)
Free Cash Flow 33.4441.9433.7140.1730.6942.5945.0447.6450.3853.29

Weighted Average Cost Of Capital

Share price $ 3.26
Beta 0.922
Diluted Shares Outstanding 178.99
Cost of Debt
Tax Rate 41.36
After-tax Cost of Debt 28.36%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.614
Total Debt 0.58
Total Equity 583.51
Total Capital 584.09
Debt Weighting 0.10
Equity Weighting 99.90
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 170.52158.83192.11217.92208.13220.12232.80246.21260.39275.39
Operating Cash Flow 67.7577.2585.91107.3885.6498.40104.06110.06116.40123.10
Capital Expenditure -34.31-35.30-52.20-67.20-54.96-55.81-59.02-62.42-66.02-69.82
Free Cash Flow 33.4441.9433.7140.1730.6942.5945.0447.6450.3853.29
WACC
PV LFCF 39.2138.1737.1636.1835.23
SUM PV LFCF 185.95

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.63
Free cash flow (t + 1) 55.42
Terminal Value 1,196.91
Present Value of Terminal Value 791.25

Intrinsic Value

Enterprise Value 977.20
Net Debt -145.11
Equity Value 1,122.31
Shares Outstanding 178.99
Equity Value Per Share 6.27